Explanation:
The journal entry to record the exchange who contains the commercial substance is shown below:
Computer A/c Dr $4,620
Accumulated depreciation - Truck Dr $25,200
To Truck $28,000
To Cash $700
To Gain on sale of truck $1,120
(Being the exchange is recorded)
The gain or disposal on sale of truck is the remaining balance left so that the debit and credit balance get equaled
Answer:
46 days
Explanation:
Given that,
Ending Accounts Payable = $1,242
Cost of goods sold = 9,855
Average accounts payable = 1,193
Payable turnover ratio = Cost of goods sold ÷ number of days
= 9,855 ÷ 365
= 27
Days Payable Outstanding:
= Ending Accounts Payable ÷ Payable turnover ratio
= $1,242 ÷ 27
= 46
Therefore, the payable days outstanding for 2014 is 46.
Answer:
Note = $5,000
Interest rate = 6%
Time period = 120 days
The journal entry is as follows:
On July 12,
Account receivable A/c Dr. $5,100
To Notes receivable $5,000
To Interest revenue $100
(To record note dishonor)
Workings:
Interest revenue = $5,000 × 0.06 × (120÷360)
= $100
Answer:
$10,200
Explanation:
The computation of the deferred income tax expense or benefit is shown below:
Favorable temporary difference = $50,000
Less: Unfavorable temporary difference -$20,000
Net favorable temporary difference $30,000
We assume the tax rate is of 34%
So, the deferred tax expense is
= $30,000 × 34%
= $10,200
By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above
A person who doesn't lock doors or fix leaks presents morale hazard.
<h3>What is morale hazard?</h3>
It refers to an unconscious attitude of an individual who is indifferent to the loss of their personal property that is covered by insurance, since the insurance could cover the damages that have occurred.
Therefore, morale hazard is the change in behavior that comes from the subconscious, generating indifference about the loss of goods because they are covered by insurance.
Find out more about morale hazard here:
brainly.com/question/15084670
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